INVESTOR ISSUES


Moneylife Digital Team 02 January 2021
Investors of Karvy Stock Broking Ltd (Karvy), who had filed claims with the investor protection fund (IPF) of National Stock Exchange (NSE), have started receiving their money back within a fortnight after processing of claims began. Some investors, who have joined Moneylife Foundation's...

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Moneylife Digital Team 31 December 2020
“The pool account of Karvy Stock Broking Ltd (Karvy) is nothing but a common account. If an investor has shares, which were purchased from Karvy as a broker, he would also have their contract notes. So, now instead of chasing and discussing Karvy’s pool account, the investor should work...

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Sucheta Dalal Sucheta Dalal 30 December 2020
Almost everybody is waiting to see the end of 2020, the year when a virus brought our lives to a grinding halt. People lost lives, livelihoods and struggled to cope with unforeseen challenges. While the economy slowed down drastically, the Indian stock market seemed to cock a snook at the...

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IANS 21 December 2020
The Securities and Appellate Tribunal (SAT) on Monday issued a notice to the Securities and Exchange Board of India (SEBI) in an appeal filed by 63 moons technologies limited against the former's order in the STP Gate matter.   The SAT has kept the matter for final hearing and...

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Sucheta Dalal Sucheta Dalal 18 December 2020
On 14th December, a hitherto unknown website, called scamsbreaking .com, stirred up a social media storm with stunning allegations about the Kolkata-headquartered SREI group that has a large footprint in infrastructure and finance. The allegation that made people sit up was that Axis Bank...

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Moneylife Digital Team 10 December 2020
Allaying the panic of investors, Nitin Ambure, vice president, operations at Central Depository Services Ltd (CDSL) explained to investors of Karvy and Anugrah brokerage firms that the depository would be able to provide the trade data and transfers that are required even if the firms were no...

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Moneylife Digital Team 09 December 2020
When the National Stock Exchange (NSE) expelled two brokerage back-to-back—Karvy Stock Brokers Ltd and Anugrah Stock & Broking Ltd—it led to enormous panic among investors.   Their initial complaints were now invalid and new forms had to be filled up to make them eligible for...

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Moneylife Digital Team 08 December 2020
Investors of Modex International Securities Ltd, a Delhi-based listed brokerage firm, which has been declared a defaulter and expelled from the bourses, have come together to file an FIR (first information report) with the EOW (economic offences wing) of the Delhi police.   Modex...

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Sucheta Dalal Sucheta Dalal 04 December 2020
The COVID pandemic has disrupted our lives and focused attention so exclusively on our livelihood and health issues that we tend to ignore the decimation of savings and wealth, which has happened, as mere statistics. Every day, people are waking up to the fact that the post-tax savings that...

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IANS 02 December 2020
Sahara has moved the Supreme Court and claimed that SEBI seeking a Rs62,000 crore deposit from it is a clear case of contempt of court and to cause public outrage against Sahara.   Sahara India Pariwar, filed a contempt petition in the Hon'ble Supreme Court against SEBI and prayed to...

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Moneylife Digital Team 17 November 2020
The National Stock Exchange (NSE) has settled claims worth Rs2,300 crore of as many as 2.35 lakh investors of Karvy Stock Broking Ltd. NSE says claims of investors with a fund balance of up to Rs30,000 have been settled.   We learn that this is just one stage of the action against...

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Moneylife Digital Team 14 November 2020
Many months after investor-clients of Anugrah Stock & Broking Pvt Ltd (ASBPL) were made to run from post to pillar to retrieve their money, market regulator Securities and Exchange Board of India (SEBI) has finally swung into action. In an order, SEBI has suspended Anugrah Stock & Broking,...

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Sucheta Dalal Sucheta Dalal 13 November 2020
On 29th September, I wrote about how Sahara Pariwar had apparently raised over Rs1.10 lakh crore in 10 years, during a traumatic phase where the group patriarch had been incarcerated for almost two years by the Supreme Court of India. These sensational numbers came from information put out by...

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Moneylife Digital Team 05 November 2020
The Securities Appellate Tribunal (SAT) on Thursday asked Edelweiss Custodial Services Ltd to give an undertaking to NSE Clearing Ltd (NCL) that it will deposit Rs212 crore within two weeks from its final decision.   In an order, the SAT bench comprising Justice Tarun Agarwala, Dr CKG...

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Moneylife Digital Team 03 November 2020
The Bombay High Court on Tuesday directed National Stock Exchange (NSE) to release some money to thousands of investor-clients of Anugrah Stock & Broking Pvt Ltd. This may be challenged by the NSE at the next hearing of the case scheduled for 5th October.    At the hearing, advocate...

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Moneylife Digital Team 03 November 2020
The senior citizen savings scheme (SCSS) is a government-backed scheme which offers a great avenue for senior citizens to invest a part of their retirement corpus and earn quarterly interest. Safety of principal and assured periodic returns play a key role while choosing an investment scheme...

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Amitabha Banerjee Amitabha Banerjee 02 November 2020
I am an eternal pessimist and a staunch believer in Murphy’s law. That is why I have turned myself into an idiot, knowingly, in order to protect my capital from any fallout of coronavirus (COVID-19) pandemic.   Let me explain the idiocy part first. The pessimism part will...

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Sucheta Dalal Sucheta Dalal 23 October 2020
In a breakthrough for retail investors, concerted action by hundreds of victims of a failed brokerage firm is holding regulators accountable and focusing sharper attention on the lapses of clearing members and intermediaries. They are getting far better results than individual complaints with...

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Moneylife Digital Team 21 October 2020
The market regulator today admitted that investor protection fund (IPF) with stock exchanges is 'woefully insufficient'. Mr Ajay Tyagi, chairman of the  Securities and Exchange Board of India (SEBI) said this in response to a media query at a event organised by the Confederation of Indian...

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Sucheta Dalal Sucheta Dalal 21 October 2020
In a 60-page order issued on 20th October, the NSE Clearing Ltd/ National Stock Exchange (NSE) has asked Edelweiss Custodial Services Ltd to credit Rs460 crore that was provided as a bank guarantee by Anugrah Stock & Broking Pvt Ltd (Anugrah) to an escrow account. Following an investigation,...

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